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Canadian Dollar / Japanese Yen

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CADJPY trade ideas

CADJPY - DOWNTREND MAY PERSISTSymbol - CADJPY CMP - 104.50 The CADJPY currency pair continues to exhibit a downward trend; however, within the current movement, a symmetrical triangle pattern of an accumulative nature is developing. The pair may persist in its decline, driven by the strengthening of the Japanese Yen, while the Canadian Dollar remains consolidated within a narrow range. This trend may be further influenced by today's news, particularly President Trump's speech, in which he may announce new tariff measures. From a technical perspective, the price is undergoing a correction following a false break of the 103.56 level, remaining below the previously breached upward support. The price is now testing key resistance at 104.90, where a false breakout is forming against the 0.5 Fibonacci retracement level. A consolidation below 104.69, coupled with a break of 104.525, could prompt a continuation of the decline. Key resistance levels: 104.90, 105.36, 105.74 Key support levels: 104.525, 103.56 With important news on the horizon, significant volatility is expected, particularly during President Trump's speech, which could set the tone for medium-term market direction. The pair is currently in consolidation, amidst the ongoing downtrend, and the prevailing outlook is for further downward movement.
Short
by akshit_official
CAD/JPY Bullish Reversal from Demand Zone?CAD/JPY is showing signs of a potential bullish reversal after testing a key demand zone around 105.00-105.50. The presence of buyers in this area confirming potential upward momentum. Price action indicates a break of the descending trendline, signaling a shift in market structure. If bullish momentum continues, the next key resistance to target is around 107.97. A long position could be considered with an entry near 106.00, a stop loss below the demand zone, and a potential take profit at 107.97. Key Factors: ✅ Presence of buyers in demand zone ✅ Trendline break & liquidity sweep LMK your opinions in comments below! 🚀
Long
by nth_trader
Sell Swing Trading Strategy for CADJPY [4h]The 4-hour CADJPY chart shows a downward trend with the current price hovering around the strong support level near 108.08, below the 33-week EMA. This presents an opportunity to implement a sell (short) strategy based on technical analysis. 1. Technical Analysis Overview: Trend: CADJPY is in a correction phase after hitting a short-term peak around 110 in early October. Recent price action shows resistance near the 33-week EMA (around 108.2 - 108.5), suggesting that the price may continue to decline further. 33-week EMA: This indicator reflects the long-term trend. The current price is below the EMA, confirming the potential for the downtrend to continue. Volume: Trading volume has been relatively steady but is decreasing as the price approaches support levels, indicating that selling pressure might still be present. 2. Sell Strategy: Entry Point: Enter a sell position around 108.2 or just below the 33-week EMA. This is a strong dynamic resistance zone, and the price may bounce slightly before continuing the downtrend. Stop Loss: Set a stop loss above 109.2, where there is short-term resistance and beyond the EMA line. If the price breaks above this level, the downtrend might be invalidated. Take Profit: Short-term target: Set the target at 106.5, which corresponds to the key support level from late September. Long-term target: If the price breaks below 106.5, extend the target to 105.5, a level where the price had previously rebounded strongly. 3. Timeframe Estimation: Estimated time to execute the strategy: This strategy could play out over 1-2 weeks, depending on market volatility. If the price breaks the 106.5 support quickly, the strategy may conclude sooner. Market conditions: If the price moves slowly, the strategy may extend by a few extra days until the take-profit level is reached. --- Practice this strategy with Exness now! You can get $10,000 in virtual money to trade risk-free. Sign up today at Exness. Thanks!
Short
by HungDaoGlobalTrading
CADJPY View!!In its monthly report for August released Thursday by the Cabinet Office, the government said the economy is “recovering at a moderate pace, although there are some areas where it is pausing.” Last month, it said the economy was “recovering at a moderate pace, although it appears to be pausing.” In the April-June quarter, the economy posted a stronger-than-expected rebound after suffering its first contraction in two quarters in January-March, up a preliminary 0.8% on quarter, or an annualized 3.1%, as consumption and business investment picked up after having been hit by suspended output at Toyota group factories over a safety test scandal, Cabinet Office data released this month showed.
Long
by FXBANkthe8055
CADJPY view!!The Japanese owner of 7-Eleven has been approached with what would be the largest-ever takeover of a Japanese company. The deal speaks to foreign companies seeking to exploit the depressed yen. In this case, the suitor is Canadian company Couche-Tard, the owner of Circle K convenience stores. The target is Seven & i Holdings Co and it was valued at USD$31 billion before the deal and jumped 23% today. Indications are that Japanese management will rebuff the offer but it could go hostile in a move to take over the 85,000 retail locations worldwide.
Long
by FXBANkthe8055
CADJPY View!The risk around Friday's US non-farm payrolls number is to the downside and sales of CADJPY are likely to be the most interesting and more rewarding trades in this scenario, according to Spectra Markets' Brent Donnelly. "I don't think there is a major skew to FX or bond positioning going into NFP. Both USD bulls and USD bears continue to dabble tentatively, and then get rinsed. Over and over," said Donnelly, president at Spectra Markets and a veteran FX trader. "With big picture carry momentum halted by the MXN move, and yields already softening substantially this week, the downside in CADJPY and USDJPY on a weak release are most interesting. CADJPY looks 200 points too high to me," he added.
Long
by FXBANkthe8055
CADJPY View!The risk around Friday's US non-farm payrolls number is to the downside and sales of CADJPY are likely to be the most interesting and more rewarding trades in this scenario, according to Spectra Markets' Brent Donnelly. "I don't think there is a major skew to FX or bond positioning going into NFP. Both USD bulls and USD bears continue to dabble tentatively, and then get rinsed. Over and over," said Donnelly, president at Spectra Markets and a veteran FX trader. "With big picture carry momentum halted by the MXN move, and yields already softening substantially this week, the downside in CADJPY and USDJPY on a weak release are most interesting. CADJPY looks 200 points too high to me," he added.
Long
by FXBANkthe8055
CADJPY View! 27.58% of traders are net-long Short-to-long ratio: 2.63 to 1 Net-long positions: +1.63% daily, +21.43% weekly Net-short positions: +1.45% daily, -13.25% weekly While the contrarian view suggests continued GBP/JPY price increases due to net-short positioning, recent sentiment changes warrant caution. The significant weekly increase in long positions and decrease in short positions may signal a potential downward price reversal, despite the overall net-short market stance.
Short
by FXBANkthe8055
CADJPY Positional View as JPY bring neutral JAPANESE YEN STILL BE NEUTRAL Dollar Index (DXY) Roars Back to Life as Safe Haven Demand Grows Due to the Conflict in the Middle East. Fed Officials Say that Higher Yields Are a Positive in the Fight Against Inflation. Developments in the Middle East and Federal Reserve Policymakers Will Drive Price Action in the Week Ahead. The Canadian dollar's rise against the US dollar above key resistance points to further gains on improving risk appetite amid resilient global growth, signs of a turnaround in commodity prices, and hopes of more stimulus from China. Commodity prices (using the Bloomberg Commodity Total Return Index) rebounded sharply in the week ended June 16, while the Bloomberg Industrial Metals index appears to have found a floor. The rebound in commodity prices has aided commodity-sensitive currencies, including the Canadian dollar, the Australian dollar, and the New Zealand dollar. Moreover, the raising of the US debt ceiling, fading stress in the banking/financial sector, resilience in global growth, and hopes that global interest rates are peaking have boosted investor confidence in risk-sensitive assets, especially technology stocks.
Long
by FXBANkthe8055